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Amazon Is Increasing the Cost of Prime for the First Time in Four Years
It all started in 2005 with free two-day shipping.
Since then, Amazon Prime has evolved into the preeminent paid subscription service, with over 100 million members getting access to popular TV series, movies and music, select free Kindle books and free shipping that now includes two-hour delivery.
Prime is one of those things that people make fit into their budgets because it’s a good deal. But now you might have to give up a trip to The Sizzler to afford the luxury.
Starting May 11, Amazon is increasing the price of Prime membership from $99 per year to $119.
Prime renewals will follow the price increase beginning June 16.
Regular and student monthly memberships will continue to be $12.99 and $6.49 per month, respectively. The annual student membership will increase to $59 per year.
No change has been announced to increase the price on discounted memberships for Medicaid recipients.
It’s been four years since Prime’s last $20 price hike from $79, shortly after which Amazon introduced Prime Music.
What’s to come for Amazon Prime members is yet to be fully revealed but there are a few things we know.
Whole Foods is eliminating its rewards program beginning May 1 in favor of a program integrated with Prime. And Amazon has acquired rights to stream two years of the NFL’s Thursday Night Football games for a cool $130 million – a perk that will only be available to Prime members.
If you’re not a Prime member and won’t be ready to pull the trigger before May 11, you can still ask your mom for a digital gift card for a year of Prime and pay her $99 back later.
Jen Smith is a junior writer at The Penny Hoarder and gives money saving and debt payoff tips on Instagram at @savingwithspunk.